Life Settlement - Portfolios News

Texans who invested with a Houston company accused of scamming state workers, retired teachers and others will get most of their money back.

Tanya Powley InvestmentAdviser Published Monday , November 16, 2009

Assured Fund has warned that “unrealistic” calls for the securitisation of life settlements failed to take into account the complexities involved in such a move.

Conning 2008 estimate: $11.7 billion of life insurance face values settled

The life settlements market was hit hard by the economic crisis and other factors in 2008, according to a new study by Conning Research and Consulting.

A number of insurers saw their risk-based capital ratios and statutory surplus levels soar last year because of accounting breaks they received from their respective state regulators, according to a new report from Moody’s Investors Service.

Phoenix Cos. Inc. has pulled its application to participate in the U.S. Treasury’s Capital Purchase Program, which has allocated the lion’s share of the $700 billion Troubled Asset Relief Program, after federal regulators took control of the life insurer’s recently acquired savings and loan.

Life Partners Holdings, Inc. (NasdaqGS: LPHI) today announced that its Board of Directors has approved a 5-for-4 split of the company’s common stock which will be paid in the form of a stock dividend on February 16, 2009 to shareholders of record as of February 6, 2009.

Insurance companies including Lincoln National Corp. may seek to become banks to qualify for a slice of the $250 billion being doled out to financial firms by the U.S. government.

Lincoln National Chief Executive Officer Dennis Glass said today he’s weighing the transformation of his Philadelphia-based life insurer into a bank holding company. His comment came as Federal Deposit Insurance Corp. Chairman Sheila Bair said her agency, which protects bank customers, may play a role in regulating insurers.

Two bankrupt investment units of Ritchie Capital Management LLC will pay Coventry First LLC $10 million in exchange for its recognition that they own key documents necessary for the sale of more than 1,000 life insurance policies.

Legacy Benefits Corporation a recognized leader in the life settlement
industry, announces the closing of the transaction of a strategic partnership with Mofet Holdings, Ltd. which
aims to broaden Legacy’s role as principal in the origination and trade of life insurance settlements and
portfolios. As part of this new alliance, Mofet U.S. Holdings, Inc., a subsidiary of Mofet Holdings, Ltd., acquired
for cash a 50 percent interest in Legacy Benefits, LLC, a newly formed subsidiary of Legacy Benefits
Corporation. Mofet Holdings is a subsidiary of Kaman Holdings, both public Israeli companies with investments
in a wide range of business sectors worldwide.

This joint venture is just the first step in a goal to provide an end to end solution to the life settlement industry.

Value Life Corp(VLC) and Chapman, Hext & Co., P.C.. (CH&Co) have formalized a joint venture to bring VLC’s software and actuarial resources and CH&Co’s back office and accounting expertise to investors with all sizes of portfolios.